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Netflix continues latest financial recovery with $1.1 billion earned

updated 05:58 pm EDT, Mon October 21, 2013

Company revises upwards latest financial projections for Q4 slightly

Netflix announced its most recent set of quarterly financial reports today. The company posted its highest earnings in a year, with $1.106 billion earned. Net income rose slightly from last quarter to $32 million, with $0.52 earnings per share. The company's cash hoard is down from $13 million a quarter ago to $7 million.

US net subscriber additions of 1.3 million were 11 percent higher than prior year due to the growing strength of the company's content offerings, aided by press coverage and social buzz generated by Orange is the New Black and Emmy nominations of Netflix-generated content.

International net additions were up from the prior year, at 1.4 million new members. The figure was driven by expansion to the Nordic countries and the Netherlands since the last quarter. International contribution loss was $74 million, worsening from the last quarter's loss of $66 million.

The company expects a similar international loss, with similar net income globally, coming in at $29 million to $45 million. It is expecting total membership domestically to expand to between 32.7 million and 33.5 million, with up to 10.9 million members internationally.




by MacNN Staff

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